One in three buy-to-let landlords are struggling to remortgage after failing their lender’s affordability test, warns Mortgages for Business.
Fresh research by the buy-to-let specialist, carried out on behalf of the Daily Mail, found that some investors are being forced to accept variable rates as high as 9.5% as a result of failing affordability tests for remortgages. Others are selling up because they can no longer afford their loans.